Women to watch: contributions, achievements, and observations of outstanding female professionals – Part IV

To mark International Women’s Day, the women of ION Analytics, including reporters and analysts at Debtwire, Mergermarket, Dealreporter, Cybersecurity Law Report, Hedge Fund Law Report, and Anti-Corruption Report have interviewed outstanding women in their respective jurisdictions and fields.

It is our honor to highlight these women and their accomplishments and contributions to their industries, and share some of their insights and perspectives. These lawyers, advisors, and consultants from around the world specialize in private equity, restructuring, mergers and acquisitions, hedge funds, anti-corruption, data privacy, and more. We hope these remarkable women inspire you as much as they do us.

In Part IV of this eight-part series, Lucy Monteiro profiles notable women in the debt restructuring field in Latin America, including (i) Fabiana Solano, partner at Felsberg Associados (Brazil), (ii) Susana Hidvegi Arango, Former Chief Bankruptcy Justice of Colombia, (iii) Daniela Lozano, associate at Carey Abogados (Chile), (iv) Isabel Picot, partner at Galdino & Coelho Advogados (Brazil), (v) Rosa Rojas Vertiz, independent legal consultant (Mexico).

Part I of the ION Analytics’ Women to Watch series

Part II of the ION Analytics’ Women to Watch series

Part III of the ION Analytics’ Women to Watch series

Fabiana Solano, partner at Felsberg Advogados (Brazil)

Fabiana Solano has been a partner at Felsberg Advogados since 2011. With an LLB from the Pontifical Catholic University of Sao Paulo and an LLM from Stanford University, she works actively in the representation of debtors, creditors and investors in private debt restructuring proceedings and in judicial and extrajudicial reorganization and bankruptcy proceedings in Brazil.

During her 20-year career, she has represented clients in many different sectors, especially the areas of infrastructure, retail, paper and pulp and agribusiness, in cases such as Unigel, Grupo Casas Bahia, Americanas and Grupo Renova.

Prior to joining the restructuring and insolvency team, Fabiana coordinated the firm’s dispute resolution department, representing clients before the International Chamber of Commerce, the Brazil-Canada Chamber of Commerce, the FIESP/CIESP Conciliation, Mediation and Arbitration Chamber, and the FGV Mediation and Arbitration Chamber.

Fabiana is a member of the Brazilian Institute of Business Recovery Studies (IBR), the Center of Women in Corporate Restructuring (CMR), the board of the Turnaround Management Association in Brazil, the International Insolvency Institute and is also a committee member of the Brazil Alumni Chapter of Stanford Law School.

What factor do you think could have the biggest impact on debt restructuring in the coming year?

The factor that could have the biggest impact on debt restructuring in the coming year is likely to be changes in interest rates. Central banks adjusting their monetary policies affect borrowing costs and the ability of entities to service their debts. Additionally, economic conditions, such as inflation rates, employment levels, and geopolitical stability, will also play critical roles in shaping the landscape for debt restructuring.

According to a 2024 article “Women in the Legal Profession” published by the American Bar Association, women constitute roughly 50% of law students, federal government lawyers, and law firm associates, but men continue to dominate the upper levels of the legal profession. Similarly, in 2023, McKinsey & Co found that women comprise approximately 20% of managing director and partner roles in private equity. To what extent have you observed there to be a reduced number of women in senior positions and what advice would you give to women who aspire to these positions?

The observation of a reduced number of women in senior positions is common across many industries, including the legal profession. This can often be attributed to systemic barriers, biases, and a lack of mentorship opportunities. Additionally, factors such as maternity and the lack of equality between parents regarding childcare responsibilities significantly inhibit women’s growth in the workforce. Women often bear a disproportionate burden of family responsibilities, which can impact their career progression and availability for advancement opportunities.

To women aspiring to senior positions, my advice would be to actively seek mentorship and sponsorship within their organizations, build strong professional networks, and continuously develop their skills and expertise. It is also beneficial to advocate for a more equitable division of parenting responsibilities within families and to engage organizations in discussions about policies that support work-life balance. Being open about career ambitions and seeking feedback can enhance visibility and opportunities for advancement.

What is the first big project that you took the lead on, and what did you learn from it?

The first big project I took the lead on was the judicial restructuring of Suape Textil. More recently, marking my return after a three-year period in the United States dedicated to studies and an experience at a large law firm, I led the restructuring of the Moreno Group, which encompasses sugar and alcohol mills. This case was particularly significant as it involved the coordination of multiple areas and various developments, presenting us with challenges and innovations that had not been tested in the Brazilian system before.

Notably, we achieved the first exit financing in a Brazilian Chapter 11, which resulted from months of long and exhausting negotiations. This experience reinforced the importance of collaboration across specialties such as restructuring, M&A, financing, real estate, labor law, and tax. I learned that effective communication and adaptability in response to challenges are essential for successful project management.

Susana Hidvegi Arango, former Chief Bankruptcy Justice of Colombia

Until December 2021, Susana Hidvegi Arango was the Superintendent of bankruptcy proceedings in Colombia (Chief Judge of the Business Bankruptcy Court), and now works as a business insolvency, complex litigation, and arbitration advisor.

She obtained her law degree and specialization in finance law from Universidad del Rosario, Bogota. Additionally, pursued an LLM in Business and Bankruptcy Law at the University of California, in Los Angeles, and is admitted to practice law in Colombia and the State of New York.

Susana also represented Colombia at the United Nations Commission on International Trade Law (UNCITRAL) working group V (Insolvency Law).

Before becoming Chief Bankruptcy Judge, she was a director of the Litigation, Arbitration and Insolvency practice at Brigard Urrutia & Abogados in Colombia, worked as international associate at Dechert LLP in New York, and clerked for the International Court of Arbitration of the International Chamber of Commerce in Paris.

She led the reforms to the bankruptcy regime to address the effects of the COVID-19 crisis, and, as a result, the Government of Colombia issued Legislative Decrees 560 and 772 in April and June 2020 and subsequent regulations.

Susana has also participated in multiple projects with organizations such as the World Bank and INSOL (International Association of Restructuring, Insolvency & Bankruptcy Professionals) International.

What factor do you think could have the biggest impact on debt restructuring in the coming year?

I believe that the coming year will be pivotal for debt restructuring, with several key factors shaping its trajectory. Macroeconomic conditions will be at the forefront, particularly interest rate trends and global liquidity constraints. As central banks continue to navigate the delicate balance between inflation control and economic growth, companies with highly leveraged structures will face increased refinancing risks. This will likely lead to a surge in restructuring cases, especially in emerging markets where access to capital is more restricted.

Geopolitical instability is another crucial variable. Conflicts, trade tensions, and shifts in global supply chains could impact industries unevenly, placing financial strain on certain sectors. Companies operating in regions with high political uncertainty may find themselves in distress, requiring more creative and adaptive restructuring solutions.

Additionally, regulatory developments will play a critical role. Several jurisdictions, particularly in Latin America, are in the process of updating insolvency and restructuring laws to make them more efficient and debtor-friendly while ensuring creditor protections. These changes could redefine how restructurings are conducted, influencing timelines, creditor negotiations, and the overall success rate of restructurings.

Another trend to watch is the growing focus on ESG (Environmental, Social, and Governance) factors in restructuring. Investors and stakeholders are increasingly scrutinizing companies’ sustainability practices, which means that businesses undergoing restructuring may face additional conditions related to ESG compliance, corporate governance improvements, and environmental commitments.

Finally, technological advancements and AI integration in financial risk assessment and legal proceedings may reshape restructuring strategies. AI-driven predictive analytics could help creditors and restructuring professionals identify financial distress earlier, leading to more proactive and preventive restructuring efforts.

According to a 2024 article “Women in the Legal Profession” published by the American Bar Association, women constitute roughly 50% of law students, federal government lawyers, and law firm associates, but men continue to dominate the upper levels of the legal profession. Similarly, in 2023, McKinsey & Co found that women comprise approximately 20% of managing director and partner roles in private equity. To what extent have you observed there to be a reduced number of women in senior positions and what advice would you give to women who aspire to these positions?

The gender gap in leadership positions within the legal sector remains a persistent challenge. While women have made remarkable strides in entering the profession, ascending to senior roles is still an uphill battle. This is not due to a lack of talent or ambition but rather to deeply ingrained structural barriers, cultural biases, and systemic obstacles that make leadership positions less accessible to women.

One key challenge is the lack of sponsorship and mentorship at higher levels. While many women receive mentorship, true sponsorship—where senior leaders actively advocate for women’s promotions, leadership opportunities, and board positions—is far less common. Women need allies in leadership who will champion their careers and open doors that might otherwise remain closed.

Another issue is the persistence of traditional leadership stereotypes. Many corporate cultures still equate leadership with traditionally “masculine” traits such as aggressiveness and risk-taking, while undervaluing qualities like collaboration, emotional intelligence, and adaptability—despite these being essential leadership skills. Women should not feel pressured to conform to outdated leadership models but instead should embrace their own authentic leadership style.

Furthermore, work-life balance remains a barrier for many women as societal expectations still place a disproportionate burden of caregiving responsibilities on them. Companies that prioritize flexible work arrangements, equitable parental leave, and support systems for working parents tend to retain more female talent at senior levels.

My advice to aspiring women leaders is threefold:

Develop your unique leadership identity – Do not try to fit into a mold or emulate male leadership styles. Embrace your strengths, whether they are strategic thinking, empathy, negotiation skills, or resilience. Authenticity is a powerful leadership trait.

Build a strong network – Surround yourself with mentors, sponsors, and peers who will support and uplift you. Actively seek opportunities to connect with influential decision-makers and industry leaders who can help propel your career forward.

Be unapologetically ambitious – Many women hesitate to advocate for themselves, fearing they will be perceived as too assertive. Do not shy away from asking for leadership opportunities, salary raises, or high-profile projects. Own your expertise and claim your seat at the table.

Women are reshaping the legal and financial industries, and while progress has been slow, it is undeniable. The next generation of women leaders must push forward with confidence, knowing that their contributions are not only valuable but essential.

What was the first big project you took the lead on, and what did you learn from it?

One of the most defining moments of my career was becoming the chief bankruptcy judge of the country in my early 30s. Leading a judiciary branch in charge of overseeing financial distress cases was a monumental challenge on its own, but what made it even more demanding was that it coincided with the COVID-19 pandemic—an unprecedented crisis that placed enormous strain on businesses, the financial system, and the judiciary itself.

This role required me to make high-stakes decisions under extreme pressure. I had to contribute to the development of new insolvency legislation, ensuring that the framework adapted to the realities of the pandemic while balancing the interests of debtors and creditors. At the same time, I had to manage the transition to digital judicial proceedings, ensuring that bankruptcy courts continued to operate efficiently despite lockdowns and logistical disruptions.

Leading during this time taught me invaluable lessons:

Crisis management is about adaptability and decisiveness. In times of crisis, there is no perfect solution. Leaders must act decisively with the best available information, adjust quickly to changing circumstances, and communicate transparently with stakeholders.

Collaboration is key. No major challenge is overcome in isolation. I learned the importance of working closely with legislators, financial institutions, business representatives, and fellow judges to create solutions that were practical, fair, and enforceable.

Leadership requires both strength and empathy. During financial distress, the law is not just about numbers and contracts; it affects people’s lives, jobs, and futures. A strong leader must combine legal expertise with empathy, ensuring that decisions are both legally sound and socially responsible.

Resilience is non-negotiable. Taking on a leadership role is never an easy task. There were moments of doubt and immense pressure, but resilience, preparation, and a clear vision allowed me to navigate through them.

Looking back, this experience was a turning point that solidified my commitment to restructuring and insolvency law. It also reinforced my belief that leadership is not about titles or tenure—it is about vision, courage, and the ability to drive change in complex and high-stakes environments.

Daniela Lozano, associated at Carey Abogados (Chile)

Daniela practices in Chile, where she focuses on civil and commercial litigation, before both ordinary and arbitration courts. She also works in special litigation, alternative dispute resolution, and restructuring and insolvency proceedings.

Her cases have included Atento Luxco 1, in its multi-jurisdictional financial restructuring based in the UK and including matters related to its recognition in Chile under cross-border insolvency rules. In addition, Daniela worked with Corp Group and its Chapter 11 case.

She is also a member of the International Confederation of Insolvency and Restructuring of Women (IWIRC) and member of Women in Dispute Resolution (WDR).

What factor do you think could have the biggest impact on debt restructuring in the coming year?

A crucial factor that could have the greatest impact on debt restructuring in the coming year is certainty, trust, and security, which requires both legislative modification and the implementation of effective public policies. Although statistics show a significant increase in bankruptcy proceedings since the enactment of Law No. 20,720 in 2014 and its subsequent amendment in 2023, certain adjustments are still needed to modernize and make the Chilean insolvency system more efficient. This would position Chile’s insolvency framework as a world-class, competitive system. We have witnessed that some Chilean companies prefer to reorganize in other jurisdictions, such as Latam Airlines or WOM, which highlights the deficiencies of the local system and regulation.

Among other amendments, the following should be highlighted: the possibility of enabling the coordinated restructuring of corporate groups, the need for an automatic stay (financial protection period) upon the filing for judicial reorganization before the court, and the ability to rescind burdensome contracts that affect the financial stability of the company, always with due protection of creditors’ rights. It would also be crucial to improve access to Debtor-in-Possession (DIP) financing to promote the creation of a strong secondary market in Chile, encourage the participation of the General Treasury of the Republic in reorganization proceedings by granting greater flexibility to renegotiate tax debts, and simplify the out-of-court reorganization proceeding, assimilating certain aspects with judicial reorganization, such as the quorum for approval and challenge of the reorganization plan and the regulation of the financial protection period.

Additionally, proactive public policies are needed to mitigate economic crises in key sectors, especially those where bankruptcies are more frequent, such as wholesale and retail trade, construction, and manufacturing. It is especially relevant to intervene in sectors like construction, which could significantly contribute to reducing the housing deficit.

This must be accompanied by a cultural shift, where insolvency is accepted as an early reality within companies and submitting bankruptcy proceedings is seen as a legitimate and necessary path, both legally and socially. Experience has shown that many debtor companies are reluctant to accept this situation and only seek advice when facing severe financial problems. If we succeed in changing this mindset and foster a culture of greater acceptance of early restructuring, this will facilitate greater effectiveness in insolvency proceedings and the recovery of viable companies.

According to a 2024 article “Women in the Legal Profession” published by the American Bar Association, women constitute roughly 50% of law students, federal government lawyers, and law firm associates, but men continue to dominate the upper levels of the legal profession. Similarly, in 2023, McKinsey & Co found that women comprise approximately 20% of managing director and partner roles in private equity. To what extent have you observed there to be a reduced number of women in senior positions and what advice would you give to women who aspire to these positions?

I have observed that, as in other sectors, the presence of women in leadership positions within the legal field, particularly in the areas of insolvency and restructuring in Chile, remains significantly lower when compared to male representation.

In Chile, women represent 56% of law students, which means that the problem does not lie in access to the profession but rather access to senior positions. This trend is evident in the legal profession. For instance, a 2023 study conducted by the International Bar Association, in collaboration with the LexisNexis Foundation, reveals that in Chile, 34% of lawyers holding senior positions are women.

This disparity is also present within academia, as data from the leading law schools in the country indicates that, of every 10 law professors, only three are women. While the gender gap has narrowed, much work remains to be done. It is essential, however, that we do not perceive this challenge as an obstacle, but rather as an opportunity to pursue our professional aspirations.

My advice to women who aspire to these senior positions is something I remind myself of daily, as I also aspire to occupy such positions. It involves having the courage to step forward as candidates and to develop a personal leadership style.

The journey may be challenging, but it is essential to maintain confidence in our abilities and persevere. We must not be afraid to take on challenges that may seem intimidating, nor question whether we deserve them, as we are qualified and prepared for them. From my perspective, women focus on innovation, are analytical, seek to build alliances and foster collaborative work, manage networks, mobilize teams, give a sense of purpose to work, break paradigms, create emotional connections with clients, and are pragmatic.

It is also crucial to seek mentors and support networks, seize opportunities for continuous professional development, and seek clear policies that define the requirements to continue growing within a company, regardless of gender and seek to adjust and measure such policies to obtain tangible results over time.

Finally, it is relevant to highlight and promote the talent of women, as this contributes significantly to the creation of a more inclusive and diverse culture. Visibility not only inspires but also solidifies the legacy of the invaluable contributions women make to the sector.

What is the first big project that you took the lead on, and what did you learn from it?

The first major project I led at Carey, at the end of 2020, was the judicial reorganization of Valle Nevado, a company with more than 30 years of existence and the operator of the largest ski resort in the Southern Hemisphere.

I am proud to have led one of the most successful reorganization cases in Chile and I will remain deeply grateful to my superiors for the significant challenge they entrusted to me. Our first achievement was to obtain the approval of the reorganization agreement, and two years later, after arduous negotiations with creditors, we approved an amendment to the agreement that allowed its lifting, culminating in a favorable outcome with the arrival of a new controller, Mountain Capital Partners.

This project was a highly significant experience that marked a milestone in my professional career. It reaffirmed my vocation and passion for insolvency law and solidified my decision to specialize in this field, alongside litigation and arbitration. I learned that the application of the law not only has a technical impact but is also a fundamental tool to contribute to social welfare by saving viable companies, and thus, preserve jobs, and seeking effective solutions for those companies that are not, facilitating either an orderly closure or a sustainable path forward, enabling re-entrepreneurship.

Additionally, this case allowed me to develop essential skills for my profession, such as leadership in high-stress situations, strategic negotiation, effective communication, and empathy to understand and manage the diverse needs and interests of creditors. Active listening was crucial in designing strategies that not only resolved my client’s problem but also benefited all parties involved, reinforcing my belief that the law is a powerful tool for finding fair and equitable solutions in complex scenarios.

Isabel Picot, partner at Galdino & Coelho Advogados (Brazil)

Isabel specializes in complex corporate and contractual disputes, domestic and cross-border restructuring and insolvency matters. With more than 18 years in practice, she has extensively advised both debtors and investors in the major Brazilian restructurings and financial transactions, as well as representing clients involved in out-of-court restructuring operations as well as court-supervised reorganization proceedings.

She has participated in several out-of-court restructuring operations and some of the largest reorganization proceedings in Brazil, in various industries, including cases like Constellation, Americanas, Light, Samarco.

Isabel holds a Master of Law degree in international dispute resolution from Queen Mary University of London, as well as a fellowship degree from the International Association of Restructuring, Insolvency & Bankruptcy Professionals (INSOL).

She is also a chair member of the Turnaround Management Association (TMA) Brazil and member of the International Women’s Insolvency & Restructuring Confederation (IWIRC).

What factor do you think could have the biggest impact on debt restructuring in the coming year?

We are living in a particularly unique moment in recent history, characterized by a post-pandemic economic wave marked by inflationary pressures and rising interest rates. These factors, combined with the effects of war, have increased the cost of capital and led to a liquidity crisis for many companies. This situation unfolded in 2024, and the coming year is expected to follow a similar trend.

Moreover, the world is experiencing a political and economic climate marked by profound transformations. One of the post-pandemic consequences is the so-called crisis of incumbents, where voting patterns have shifted towards opposition candidates, resulting in greater political and economic changes and potential instability. In this context, the recent election of President Donald Trump in the US, for example, has introduced a new dynamic for the international trading system and for the digital economy, while also pushing for a more deregulated market in the coming years. This dynamic, which has a big impact on the global economy, is certainly poised to influence the debt restructuring landscape.

In parallel, within the legislative arena in Brazil, we have had the opportunity to test some modifications introduced by the reform in 2021 over the past few years. A notable example is DIP financing, which has expanded as the new legal framework provides more safeguards for those intending to finance companies undergoing formal restructuring proceedings. The coming year is, therefore, likely to feature the evolution of the institutions that came with the recent reform.

Additionally, Bill 03/2024 (which is not immune to criticism as it was drafted) introduces substantial changes to Brazil’s bankruptcy environment. Now stalled in the Senate, it has become a priority for the government in 2025 and is expected to regain traction in the approval process soon.

According to a 2024 article “Women in the Legal Profession” published by the American Bar Association, women constitute roughly 50% of law students, federal government lawyers, and law firm associates, but men continue to dominate the upper levels of the legal profession. Similarly, in 2023, McKinsey & Co found that women comprise approximately 20% of managing director and partner roles in private equity. To what extent have you observed there to be a reduced number of women in senior positions and what advice would you give to women who aspire to these positions?

This is an important question. With the increasing participation of women in the legal market, the next issue becomes their retention and progression to leadership roles or equity partnerships. The underrepresentation of women in senior positions is especially visible in Brazil. Having been part of the Brazilian legal market for more than 20 years, I have witnessed extraordinary women who face fewer opportunities for access to leadership positions. As highlighted by Mary Ann Sieghart in The Authority Gap, these women often sacrifice their career advancement due to the extra hurdles they must navigate to prove their competence and gain recognition.

The socio-political landscape emerging globally suggests that the challenges women face in society are likely to persist. Therefore, my primary advice for women striving to claim their space is to broaden and expand themselves. Chimamanda Ngozi Adichie’s We Should All Be Feminists emphasizes that “We teach girls to shrink themselves, to make themselves smaller,” when, on the contrary, women were born with a powerful toolkit of polyvalence, versatility, communication skills, and an intuitive relationship with the world that make them unique in the professional world. Women must harness these tools to close their confidence gap and occupy spaces with presence and attitude. Femininity empowers women with an extraordinary ability to forge genuine alliances, whether with men or other women, which is crucial for shaping career progression in leadership.

Finally, in this process of “expansion”, women should remain vigilant against falling into traditional patriarchal traps, such as fueled rivalry among women or their subjection to restrictive aesthetic and beauty standards. In essence, the process of female expansion must involve a continuous critique of our values, steering us toward the assertion of personal power.

What is the first big project that you took the lead on, and what did you learn from it?

Certainly, the two consecutive restructurings of the Constellation Group were very significant to me. The case, initiated in 2018, involved the restructuring of 18 companies in Brazil, 14 of which were foreign entities. Although the Brazilian courts, under Brazilian Bankruptcy Law, had the jurisdiction to restructure all 18 entities, the Chapter 15 process before a US bankruptcy court became relevant when the US court opted not to immediate grant full force and effect to the Brazilian RJ process confirmation order. As a result, the US court required a more comprehensive explanation of how the Brazilian legal system operates, highlighting the crucial role of Brazilian advisors to build the connection between both jurisdictions. This ongoing interaction with the US jurisdiction allowed me to gain a solid understanding of the US system and the US court’s perspective in ancillary proceedings such as Chapter 15, which is undoubtedly a vital tool for managing cross-border insolvencies.

Rosa Rojas Vertiz, Independent legal consultant (Mexico)

Rosa is an academic and international consultant on insolvency and business Law in Mexico. For many years, she was a member of the banking and finance group of a leading Mexican firm, dealing with lending and secured transactions, real estate financing, structured cross-border financing, restructurings and workouts.

She later joined the First Chamber of the Supreme Court of Justice of Mexico, where she drafted judgments and contributed to the development of legal precedents dealing with civil, commercial, finance and insolvency matters. She is currently a professor at ITAM University (Instituto Tecnológico Autónomo de México).

Rosa joined the team that drafted a National Code of Civil Proceedings at the invitation of the Mexican Senate to incorporate a consumer insolvency proceeding.

She is a co-chair of the International Confederation of Insolvency and Restructuring of Women (IWIRC) LatAm network for 2023-2025 and is subcoordinator of the Insolvency Committee in Mexico. She is a member of the Mexican Academy of Private and Comparative International Law (AMEDIP), the Ibero-American Institute for Law and Finance, the American Bankruptcy Institute, INSOL International, among other entities.

What factor do you think could have the biggest impact on debt restructuring in the coming year?

If US President Donald Trump imposes the tariffs he has been speaking about on many countries, Mexico included, many companies will be affected, and we will very possibly see an increase in the number of bankruptcy filings. If we focus on Mexico, the replacement of our current federal judges with judges elected by the people will have a huge impact on debt restructuring. I am pretty sure that the use of Alternative Dispute Resolution mechanisms will dramatically increase.

According to a 2024 article “Women in the Legal Profession” published by the American Bar Association, women constitute roughly 50% of law students, federal government lawyers, and law firm associates, but men continue to dominate the upper levels of the legal profession. Similarly, in 2023, McKinsey & Co found that women comprise approximately 20% of managing director and partner roles in private equity. To what extent have you observed there to be a reduced number of women in senior positions and what advice would you give to women who aspire to these positions?

In Mexico, the percentage of women in senior positions is possibly below 20%, especially in matters dealing with debt restructuring and insolvency. There are very few women, and most women with expertise in insolvency are not decision-makers but work in firms ruled by men. Men dominate the business environment. Deals are usually made during social gatherings in which women do not participate. To overcome this situation, my advice to women is to support each other on a regular basis. If we do not help each other, who will? It is a must to create a strong network and to recommend each other every day. Also, we should acknowledge and learn from those who have more experience instead of competing with them. I also think that we should:

• Believe in ourselves and in our project
• Do our best in every endeavor
• Invest in our careers
• Work hard
• Persist
• Collaborate
• Actively participate in professional organizations
• Write and speak in conferences and seminars
• Delegate, but properly supervise

What is the first big project that you took the lead on, and what did you learn from it?

I have taken the lead on many big projects throughout my career. I started as an associate in the financing and restructuring team of a large firm, and pretty quickly, I was in charge of implementing all types of financing and security interests.

Afterward, I was invited to participate in the study of a case involving the securitization of public funds at the Supreme Court of Justice. I joined as a law clerk, worked with many justices, and learned extensively about litigation techniques.

Then I decided I wanted to do research and contribute to reforming our laws and proceedings and entered academia. I was hired to train the first two bankruptcy courts created in Mexico two years and a half ago.

I also joined a team that worked on a new National Code of Civil Proceedings to introduce a consumer insolvency proceeding, which was missing in our law.

Recently, I was invited by UNCITRAL to lead a team consisting of judges and insolvency practitioners to update the UNCITRAL Practice Guide on Cross-Border Insolvency Cooperation and to prepare a capacity-building program for judges in cross-border insolvency. I did the first training last November 2024, in Panama.